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they can staunch the bleeding from falling off the fiscal cliff if that happens. >> bret: ed, the former presidential candidate mitt romney was at the white house today. >> it's relatively brief. we had lunch with turkey chili and not business. president did have a specific job offer or anything for mitt romney. after the white house put out a statement to say they pledge to keep in touch if the opportunity arises down the road that sounded like not so much. >> bret: did biden bring by the apple pie? >> they may save that for a celebration if hay get a deal. >> all right, ed. thank you. >> major retailers are reporting weaker than expected holiday sales so far. november receipts are 1.7% over last year. that is well below the 4.5 to 5.5 predicted for holiday season. the economy grew at 2.7% in the third quarter better than the figure announced. the dow was up 37. the s&p 500 gained six. nasdaq finished ahead 20. syrian rebels struck a major blow in the heart of the government today killing a top ruling of the party in a car bombing and someone is cutting off internet and cell phone commu
they can staunch the bleeding from falling off the fiscal cliff if that happens. >> bret: ed, the former presidential candidate mitt romney was at the white house today. >> it's relatively brief. we had lunch with turkey chili and not business. president did have a specific job offer or anything for mitt romney. after the white house put out a statement to say they pledge to keep in touch if the opportunity arises down the road that sounded like not so much. >> bret: did biden...
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Dec 4, 2012
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i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military installations. 5 colleges and universities. 11 indian tribes. the best college football team in america. it is a very special place. i would argue with your statistics. i just won reelection with 68% of the vote. having said all that, the idea that the paul ryan budget is about getting rid of social programs is ntot so. it is about saving them. these programs are going bankrupt. all are going to have to be reformed. if the president gets every tax increase he is asking for, let's just assume that he did, it would not come close to solving the budgetar
i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military...
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Dec 5, 2012
12/12
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we are going over the fiscal cliff, that's my take. the administration is not budging. the only way they will even come to the table to negotiate is with the top earners paying higher tax rates, not just more in taxes, higher tax rates. but for some reason it must be higher rates, period. that's it. end of story. not because it is going to move the needle and fix our out of control debt, because it won't, not because it will put america on a fiscal sustainable path, because it won't. that is where the president has drawn his line in the sand. meanwhile, the president is now proposing a form of kicking the can down the road. raising taxes now with a promise to deal with entitlement reform and tax reform next year or beyond. that's the real worrisome proposal. here we are at the center of probably the most important fiscal conversation this country has had in decades. no one thinks we can continue on this spending path we are on without a day of reckoning coming sooner or later. why would we not seize the
we are going over the fiscal cliff, that's my take. the administration is not budging. the only way they will even come to the table to negotiate is with the top earners paying higher tax rates, not just more in taxes, higher tax rates. but for some reason it must be higher rates, period. that's it. end of story. not because it is going to move the needle and fix our out of control debt, because it won't, not because it will put america on a fiscal sustainable path, because it won't. that is...
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Dec 5, 2012
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> 28 days until the country plummets off the tax and fiscal cliff. big tax hikes could be coming for everyone but we see als
we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the...
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cliff. let's get straight to the politics of these developments and the rhetoric and possible economic impact of failureto resolve the issues. joining as, former spia assistant to president george w. bush, a veteran political consultant and republican pollster. let's tart, if i may, with you. do you think both sides right now are seriously ready to go over the cliff? >> i think the preside i very ready because they arereading into this election last month a mandate that i simply don't see. the president got 15 million americans to vote against him which fail to produce any type of meaningful budget in his democratic controlled snate. we are at the disco club because of the president's inability to ev a single-day tackle entitlement reform and take it seriously talk about tax reform instead of tax hike so i think the way to have honest good faith initiations is to come to the table closer together. lou: before we restructure negotiations that act have not taken place, the republican side of t
cliff. let's get straight to the politics of these developments and the rhetoric and possible economic impact of failureto resolve the issues. joining as, former spia assistant to president george w. bush, a veteran political consultant and republican pollster. let's tart, if i may, with you. do you think both sides right now are seriously ready to go over the cliff? >> i think the preside i very ready because they arereading into this election last month a mandate that i simply don't...
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obama let the nation fall off the fiscal cliff. >> republicans need to acknowledge reality here. rates have to go up. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes? >> the fact of the matter is that it's vitally important that we extent and the president's view make permanent tax cuts for 98% of the american people. >> the president would like to see it done tomorrow and would sign it right away. >> they will put for ending deduction and closing loopholes. >> republicans move a great deal. who was the first person after the election was the speaker who went down and provided the re-knew. >> they blasted the proposal to limit deductions to tell bloomberg television it's unrealistic. >> that means every hospital and university and non-for profit, the agency. across the country w
obama let the nation fall off the fiscal cliff. >> republicans need to acknowledge reality here. rates have to go up. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes?...
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Dec 6, 2012
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. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouraging thing was they agreed to the to characterize the phone call. the last time around the characterization of the phone call became a controversy in itself. i think it's pretty clear that the white house and republicans think the white house hand on this is strengthening. we see the polls that you mention, pew polls this week say americans trust the president more, assume if a deal is not reached -- trust the white house more, think if a deal isn't reached it, will be the fault of republicans and it is in fact easier for democrats to go over the fiscal cliff than it is for republicans because then all those tax cuts from the republicans are swept away. but it's too early. it's only december 6. we've
. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouraging thing was they agreed to the to characterize the phone call. the last...
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. >> and don luskin, is it better to own bonds during this fiscal cliff tiff? >> yes, december is the time to be risk off folks. the market's in complete denial. total complacency. the fiscal cliff will create a crisis like the debt ceiling negotiation did that led to the bottom 16 months ago. going to be another buying opportunity. but stocks will be significantly lower. by the way that's what creates buying opportunities. but face it it's going to happen. >> jim la camp, will the stock market vigilantes be necessary to get an agreement in washington? >> i think we're going to see more volatility. >> don and jim, thanks very much. >>> up next why the biggest headache right now for a baseball general manager might just be taxes and the fiscal cliff. don't tell me taxes don't matter. it even affects baseball all next on "kudlow." >>> dominos have a problem with obama care. they claim it forces them to post signs with nutritional information on every product. domino's says it's done the math. there are 34 million possible combinations costing thousands of dollars
. >> and don luskin, is it better to own bonds during this fiscal cliff tiff? >> yes, december is the time to be risk off folks. the market's in complete denial. total complacency. the fiscal cliff will create a crisis like the debt ceiling negotiation did that led to the bottom 16 months ago. going to be another buying opportunity. but stocks will be significantly lower. by the way that's what creates buying opportunities. but face it it's going to happen. >> jim la camp,...
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a lot of people are worried about fiscal cliff and sort of reluctant to put money to work. why are you so active? >> it's all about appropriate amounts of leverage. you can't borrow a lot, so you have to have the cash to be able to build. when you have a conservative capital structure and you're buying iconic assets in great cities, i think you'll do very well over time. traditionally, that's been proven in real estate. >> we all know it was a very hotly contested presidential election, and of course your dad, donald, has been on our program a lot. he was a big supporter of romney. there were stories going around that you said, dad, pull it back a bit. you don't have to be so negative on the president. is that what happened? >> it was fascinating because this was a widely circulated report that was without fact at all, and not one reporter actually called and asked the question you just did, which is, is that true? no, it wasn't. my father has been a very important part of the dialogue. he's been saying a lot of things that other people, you know, not wanting to be in a spa
a lot of people are worried about fiscal cliff and sort of reluctant to put money to work. why are you so active? >> it's all about appropriate amounts of leverage. you can't borrow a lot, so you have to have the cash to be able to build. when you have a conservative capital structure and you're buying iconic assets in great cities, i think you'll do very well over time. traditionally, that's been proven in real estate. >> we all know it was a very hotly contested presidential...
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Nov 30, 2012
11/12
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and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in it. so we are going to jump in. our best guess on how this negotiation will play out right after the break. plus what would thomas jefferson do with the fiscal cliff? funny you should and s author john meechum's new biography on the founder father sheds new light on the man and his method and he, john meechum will join us in the war room. and later mitt romney finally got into the white house don't worry, though it was just for a bowl of chili. ititititititititititititititititititititititititititit before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the cold & flu season help prevent with lysol. because when you have 1
and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in it. so we are going to jump in. our best guess on how this negotiation...
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the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and millionaires. it's a sad state of affairs. >> one thing that we've seen in the days leading up, at least through this week, that there has been optimism from both sides expressed by speaker boehner, also by the president, and also republican tom cole, congre congressman, seem to be on board. now we have conservatives like charles krauthammer putting out their pieces saying let's go over the fiscal cliff, let the president do this. then john cornyn, republican from texas, saying apparently the president wants us to go over the fiscal cliff. this is serious business, demanding higher taxes, more stimulus
the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and...
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. >>> they are turning down the latest with the fiscal cliff crisis. opponents say they will not bulging. >> reporter: house republicans want big spending cuts but no tax rate increases. here is a picture of president barack obama answering questions on twitter about the fiscal cliff. he is promoting a reference to the estimated tax increase and middle income families would see if rates are not extended, the latest would extend tax cuts for everyone including americans and who the president wants to exclude. the white house says the proposal is too short on specifics. >> we can't guess what they are, they need to tell us and they look forward to the time when they are specific with the ways we have dealt with it. >> they don't like what republicans want to do to social security and more on that during my next update. reporting live, allison burns, ktvu channel 2 morning news. >>> 5:14 in florida, they have released a photo of george zimmerman, showing george zimmerman with a swollen nose and blood did i face. they responded and said it adds nothing new
. >>> they are turning down the latest with the fiscal cliff crisis. opponents say they will not bulging. >> reporter: house republicans want big spending cuts but no tax rate increases. here is a picture of president barack obama answering questions on twitter about the fiscal cliff. he is promoting a reference to the estimated tax increase and middle income families would see if rates are not extended, the latest would extend tax cuts for everyone including americans and who...
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>>> still to come we'll dig into the fiscal cliff with caterpillar's ceo. first as we head to break a drawing at sotheby's in london sold for nearly $48 million, nearly double the expected price, it was sold to an unsided buyer. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance. >>> welcome back, everybody. we've been watching the futures, they are mixed, dow slightly higher but you can also see futures are lower for the s&p and the nasdaq. in our headlines apple and samsung are back in court in a high profile patent case. samsung is seeking to overturn an august verdict that found it guilty of infringing patents and ordered it to pay apple $1 billion. ap
>>> still to come we'll dig into the fiscal cliff with caterpillar's ceo. first as we head to break a drawing at sotheby's in london sold for nearly $48 million, nearly double the expected price, it was sold to an unsided buyer. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the...
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a very stark assessment from the house speaker on where the fiscal cliff talks stand with 24 days to go. where should you put your money heading into this weekend? could be a very crucial weekend. >>> no worries. with the unemployment rate still near an 8% level, why some companies can't find workers. there's work and it is not a skills gap. we'll show you what else is being factored in to that equation. >>> and no fair, perhaps? well, a big change at big blue. ibm changing the way it pays down its 401(k). will other companies follow suit? tyler mathisen, my partner, who is always fair, always working, and is always a work in progress, according to this, is at new york stock exchange. hi, ty. >> i am the ultimate work in progress. thank you very much. >>> despite the assessment from the speaker of the house on the fiscal cliff, the fact he says there is no progress being made so far, the dow sort of playing past it. right now the industrials up by 46 points at 13,120 and change. apple is part of the nasdaq. apple down $14 a share. another 2.66% today as scott mentioned a moment ago,
a very stark assessment from the house speaker on where the fiscal cliff talks stand with 24 days to go. where should you put your money heading into this weekend? could be a very crucial weekend. >>> no worries. with the unemployment rate still near an 8% level, why some companies can't find workers. there's work and it is not a skills gap. we'll show you what else is being factored in to that equation. >>> and no fair, perhaps? well, a big change at big blue. ibm changing...
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president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not that tough. but we need that conceptual break through that says we need to do a balanced plan. >> we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts reforms and it included additional revenue. and frankly, it was a balanced approach mr. president has been asking for. now we need a response from the white house. >> they have 27 days to prevent automatic tax hikes and spending cuts from kicking in on new year's day. ed henry live at the white house for us. ed, we are hearing the president and house speaker john boehner actually talked by phone no
president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not...
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one of the things in the fiscal cliff is going back to the clinton era tax rates for everybody. now, i know there's sequestration and payroll tax. there's a lot of other things in there, but we did okay with those tax rates. why did we just assume there'd be a recession. >> let me mention a couple of things from the 1990s that are very different from today. first, there was a lot. there was an implicit deal that when clinton raised tax rates, the federal reserve would accommodate that with lower interest rates. you're not going to get that today. we're already basically at zero. there's very little for the feds to do. secondly if you go back to the 1990s, you may recall we had this thing called the internet bubble. that's a big driver. >> no, no. that's a republican's favorite answer. it wasn't clinton. it with us the bubble. >> we -- well, we did have a bubble. i mean that was a big thing. it drove in a lot of revenue. and if you recall clinton's last year in office, the bubble was starting to collapse. >> we had a pretty good housing market, too, i think. >> absolutely. >> and
one of the things in the fiscal cliff is going back to the clinton era tax rates for everybody. now, i know there's sequestration and payroll tax. there's a lot of other things in there, but we did okay with those tax rates. why did we just assume there'd be a recession. >> let me mention a couple of things from the 1990s that are very different from today. first, there was a lot. there was an implicit deal that when clinton raised tax rates, the federal reserve would accommodate that...
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i think that the president wants to go over the fiscal cliff, he wants all of the tax rates to go up, he needs that revenue,nd more important we know he is not going to get blamed. the madial protect him -- media will protect h. the other thing, this president, for a long time has tald about a balanced approach to deficit reduction, we assumed revenue on the table and spending cuts, but only conversation we're having is tax increases, there is no conversation about spending cuts. >> in january 2010, said he wanted to tap into entitlement reform, we have to look at entitlement. neil: steve quickly, one thing you are not looking at on the timeline, you think that markets will not have a voice in what happens, i saw, always, stay tuned. >> we'll see. lou: right, steve murphy thank you. an >> thank you. lou: mont monica rowley, what e bleepp >> i know. for your comments. republicans seem to be folding like cheap suits in the fiscal negotiations it just seems that way, doesn't it it does however seem that w way. james wrote,ea
i think that the president wants to go over the fiscal cliff, he wants all of the tax rates to go up, he needs that revenue,nd more important we know he is not going to get blamed. the madial protect him -- media will protect h. the other thing, this president, for a long time has tald about a balanced approach to deficit reduction, we assumed revenue on the table and spending cuts, but only conversation we're having is tax increases, there is no conversation about spending cuts. >> in...
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fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to an end in central america, we think. wealth editor robert frank has the latest details on the arrest of john mcafee. >> ye
fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with...
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. >>> starbucks' ceo howard schultz has some sobering advice to offer on that looming fiscal cliff. he says consequences will be far worse than last year's debt ceiling fight, when the u.s. credit rating was downgraded for the first time ever. if a deal is not reached, he told our poppy harlow, the ripple effect will be felt worldwide. >> this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences, domestically and around the world. >>> take a minute to come over to your tv, if you can. penn state has another pr problem on its hands this morning. the university's kai omega sorority is being investigated for stereotyping latinos after a picture showed up on the site tumblr. the photo showed sorority members wearing fake mustaches and dressed in somberos while holding signs that say, "i don't cut grass, i smoke it." the president of the chapter has apologized. is that enough, soledad? >> ladies, as your multi-ethnic friend, let me help you. help me help you
. >>> starbucks' ceo howard schultz has some sobering advice to offer on that looming fiscal cliff. he says consequences will be far worse than last year's debt ceiling fight, when the u.s. credit rating was downgraded for the first time ever. if a deal is not reached, he told our poppy harlow, the ripple effect will be felt worldwide. >> this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome...
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cliff than not to have a rise in tax rates, and he said, quooe, "no deal is better than a bad deal," and a bad deal for him is not letting tax rates go up. what do you think of that? he's one of your own. >> well, unfortunately, we've got too much partisanship in washington, d.c.. the american people want the leaders, both the president and the congress to come together, make the tough decisions. it's going to take both. it's going to take the revenue, but it's also going to take fundamental reform of spending. you cannot spend a billion dollars more than you take in every year or there's fiscal ruin, and with the amount of baby boomers retiring over the next several years, they are going to have to deal with things like medicare, medicaid, and social security if we're going to resolve this thing for the long term, and, frankly, iowa farmers and small businesses will be hit with huge increases in capital gains and death taxes, a real damaging blow to our state, which is doing well. liz: let's talk about the double whammy you face, and you're only one of six states where it's an inter
cliff than not to have a rise in tax rates, and he said, quooe, "no deal is better than a bad deal," and a bad deal for him is not letting tax rates go up. what do you think of that? he's one of your own. >> well, unfortunately, we've got too much partisanship in washington, d.c.. the american people want the leaders, both the president and the congress to come together, make the tough decisions. it's going to take both. it's going to take the revenue, but it's also going to...
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but to say with seven working days left and 27 total days until we go off the fiscal cliff, that's an interesting posture to take, so to speak. >> gretchen: some people in negotiations say seven days it a life -- is a lifetime. usually deals happen at the last minute. but be that as it may, the idea -- what he's doing now is he's living up to his campaign promise. one of the reasons he won this reelection, people would say, is because he talked a lot about this. he talked about let's tax the rich. let's have them pay their fair share, even though a lot of people would argue they are paying their fair share. but it appears to have worked. that's why he's stick to go this line of the some people disagree. congressman paul ryan and marco rubio said this. >> an election has come and gone. the people have made their choice. the policy makers still have a duty to choose between ideas that work and those that don't. when one economic policy after another has failed our working families, it's no answer to simply express compassion for them or to create more government programs that offer prom
but to say with seven working days left and 27 total days until we go off the fiscal cliff, that's an interesting posture to take, so to speak. >> gretchen: some people in negotiations say seven days it a life -- is a lifetime. usually deals happen at the last minute. but be that as it may, the idea -- what he's doing now is he's living up to his campaign promise. one of the reasons he won this reelection, people would say, is because he talked a lot about this. he talked about let's tax...
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. >>> with the fiscal cliff approaching, people worry about having to pay a higher tax rate, i get that, but when you can snag high-quality stocks that yield more than 5%, i'm all ears. that's one of the reasons i want to tell you about health care trust of america, a newly minted real estate trust that owns medical office buildings. hga is a very defensive stock. unlike retail reits, it's levered to a sector, health care, that just does fine when the economy goes in recession. look, it's a real possibility if we go off the cliff. plus we have a limited supply of medical office space. this is a nice, steady business. let's take a closer look with scott peters. mr. peters, welcome to "mad money." >> thank you for having me. >> i try all the time to find companies that might be beneficiaries of the affordable health care act. i stumbled on you guys. you're the one? >> we think we are. we've been fortunate. health care systems are now running like businesses. with 30 to 40 million more insured coming up, they need the most affordable location to off those services. those are mobs, they're
. >>> with the fiscal cliff approaching, people worry about having to pay a higher tax rate, i get that, but when you can snag high-quality stocks that yield more than 5%, i'm all ears. that's one of the reasons i want to tell you about health care trust of america, a newly minted real estate trust that owns medical office buildings. hga is a very defensive stock. unlike retail reits, it's levered to a sector, health care, that just does fine when the economy goes in recession. look,...
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is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans -- rr s -- rrm, it'emy 2%, it can't be solved. i think there's broad recognition of that reality now. >> okay, julia. see, this is the problem with men. on sunday morning geithner went on "meet the press" like they're going to cave. >> that's not good tactics for negotiations. >> get him out and get some women -- the congresswoman we had on the other day, the republican congresswoman, mcmorris rogers. sorry about that, really tired, she's fantastic. get her at the table more. get more women to the table because that's just not the way to negotiate. i agree with the administration's position on this. >> the treasury secretary yesterday goes oh, yeah. we can go over the fiscal cliff. >> don't you think that's going to make everybody feel really good, the markets. >> the republicans are doing the same thing. somebody has to be better. >> but the republicans don'
is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans -- rr s -- rrm, it'emy 2%, it can't be solved. i think there's broad recognition of that reality now. >> okay, julia. see, this is the problem with men. on sunday morning geithner went on "meet the press" like they're going to cave. >> that's not good tactics for...
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fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game. because we have to break that habit before it starts. >> bret: what about that? >> well, the president had as many red lines for iran as for house republicans. i think what kirsten said is absolutely remarkable. it is about the scalp. it's about the president having made a campaign argument for the better part of 2012. so that he could run a class warfare campaign. now having to make good on that with the base of his party. the u.s. economy be damned. the republicans offered to give so much and offering precisely what erskine bowles laid out as a compromise position in
fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game....
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cliff. tonight maryland's senator ben cardin joins me for some perspective from the other side of the river. senator, we're so glad to have you. >> my pleasure. >> we are in the midst of a stalemate, the president holding onto the idea of raising rates, the congress dominated by the mouse republicans saying we want to -- house republicans saying we want to close loopholes. where are you on this and why not have a combination of the two? >> it seems like both sides agree revenues have to be an important side of the equation and that's true. the easiest way to get revenue is through the rates. the senate passed this bill. it's in the house that allows tax relief for up to $250 to become law. that gives predictability and confidence and we can then have the revenue from the higher income to help deal with the fiscal cliff. the problem with closing loopholes is it's difficult to get anywhere near the type of revenue you can get from the rates on the higher income. >> fair enough. now if there is
cliff. tonight maryland's senator ben cardin joins me for some perspective from the other side of the river. senator, we're so glad to have you. >> my pleasure. >> we are in the midst of a stalemate, the president holding onto the idea of raising rates, the congress dominated by the mouse republicans saying we want to -- house republicans saying we want to close loopholes. where are you on this and why not have a combination of the two? >> it seems like both sides agree...
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>> shannon: as the sparring continues over the fiscal cliff, neither boehner nor geithner can say for certain that the country will not go over the edge. i'm shannon bream. america's news headquarters live from the nation's capital starts right now. >> shannon: we want to get to the budget standoff. peter doocy joins us live. there is time to strike a deal but not a lot. >> reporter: that's right. the speaker of the house john boehner made a point today to say there is not much time between election day and the end of the year. he thinks the white house has already wasted weeks because he does not think the proposal to avoid a fiscal cliff is serious one. negotiations here are nowhere. another republican, senator lindsey graham thinks he thinks things are heading down hill. >> i think we are going over the cliff. it's clear to me they made a political calculation. the offer doesn't deal with the entitlement reform to save the medicare and medicaid and social security from imminent bankruptcy. it raises $1.6 trillion on job creators to destroy the economy. no spending controls. >> repo
>> shannon: as the sparring continues over the fiscal cliff, neither boehner nor geithner can say for certain that the country will not go over the edge. i'm shannon bream. america's news headquarters live from the nation's capital starts right now. >> shannon: we want to get to the budget standoff. peter doocy joins us live. there is time to strike a deal but not a lot. >> reporter: that's right. the speaker of the house john boehner made a point today to say there is not...
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cliff are not hurting president obama's approval rating. it's now at 57%. that is the highest rating since may 2011 when navy seals killed osama bin laden in a raid. 42% of americans say the country is on the right track and majority think it's likely president obama will improve the economy. >>> time now 5:35. the national football league is willing to help the raiders build a new stadium in oakland. nfl commissioner says it's crucial the raiders improve their stadium situation and the nfl would help pay for a new one. now the team and the city have held negotiations about a new stadium but there is nothing concrete yet. commission ever cadel also said they could -- but that deal would have to be worked out between the two teams. >>> a big change may be coming to the national football league in the near future. coming up at 5:45 why some people want kickoffs to be eliminated and what they would replace it with. >>> new this morning november unemployment report was just released. it is a little better than expected. it shows the u.s. econom
cliff are not hurting president obama's approval rating. it's now at 57%. that is the highest rating since may 2011 when navy seals killed osama bin laden in a raid. 42% of americans say the country is on the right track and majority think it's likely president obama will improve the economy. >>> time now 5:35. the national football league is willing to help the raiders build a new stadium in oakland. nfl commissioner says it's crucial the raiders improve their stadium situation and...
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cliff. the ball, timothy geithner's comments -- >> i i was -- i was flabbergasted. i said you can't be serious. >> if congress fails to act by the end year, tax rates will go up for everyone and across the board spending tax. >>> a new legislative session will start today. democrat are allowed to raise taxes with little fear of republican opposition. but leaders say they are gonna avoid doing that since voters just passed prop 30. republicans, as well as governor brown, will be watching. >>> this month, the state is going to pay public schools and community colleges, the 1.9 billion it owes them. it is money that should have been paid out for over the summer but it was deferred until january. >> now, thanks to proposition 30, the state won't have to wait until then and then the schools will get another payment. >>> students in five states will be spending more time in school. select schools in colorado, connecticut, massachusetts, new york and tennessee, are scheduled to announce today, they
cliff. the ball, timothy geithner's comments -- >> i i was -- i was flabbergasted. i said you can't be serious. >> if congress fails to act by the end year, tax rates will go up for everyone and across the board spending tax. >>> a new legislative session will start today. democrat are allowed to raise taxes with little fear of republican opposition. but leaders say they are gonna avoid doing that since voters just passed prop 30. republicans, as well as governor brown,...
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will entitlement be changed on this side of the fiscal cliff? >> two things in response to that. first, the great irony here is four weeks ago, mitt romney and paul ryan and republicans are pummeling the president for $716 billion for medicare savings that extended the life of medicare. they said they want to add all the costs back in. hopefully they are back to the position of the ryan budget to recognize they're important savings. number one. number two, the president's plan, budget, contains medicare savings than the ryan-republican plan did. we'd like to see the specifics, what are they proposing with respect to cuts to medicare? >> we can go around the healthcare barnyard again and again, about how you can't spend that money twice. and how medicare actuary said that. the $716 billion. you can either use it to shore up medicare or use it to pay for obamacare. >> right. right. but the fact is the position that mitt romney took as a presidential candidate was to put all of those costs back in to medicare. which would have meant it went insolvent eight years sooner. >> bret: but
will entitlement be changed on this side of the fiscal cliff? >> two things in response to that. first, the great irony here is four weeks ago, mitt romney and paul ryan and republicans are pummeling the president for $716 billion for medicare savings that extended the life of medicare. they said they want to add all the costs back in. hopefully they are back to the position of the ryan budget to recognize they're important savings. number one. number two, the president's plan, budget,...
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. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reynolds wolf is standing by. what is happening around the country today? >> the story is all west. everything is taking place out west. rain, some strong winds, even some snow. some places snow getting up to around 2, 3 feet, but that is high elevation. but for the eastern seaboard, pretty quiet p. temperatures very mild this time of year. when you get into the center of the u.s., still fairly mild conditions. a bit cooler as you might imagine in spots up like towards the twin cities and even over towards chicago. but then out west, that's where the trouble really brews. it's that time of year that there's norm lay big area of high pressure that sets up off the west coast. that's gone and that allows all the pacific moisture to come through. high snow will be an issue. rain in seattle. so how is i
. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reynolds wolf is standing by. what is happening around the country today? >> the story is all west. everything is taking place out west. rain, some strong winds, even some snow. some...
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cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the tax cuts expiring at the end of the year and the question is do we have to go over that cliff before a deal can be struck or not. >> we asked you yesterday whether or not progress was taking place at least on the staff level. you said there were differing opinions. has the needle moved on that front? >> well, the movement of the needle was that yesterday the staff resumed conversations after a little hiatus over several days before that, so that is a progress in and of itself that they're talking, but there's no indication that those conversations ha
cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the...
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rate at nearly 52%. >>> forbes is out with the 2012 most powerful people list. president obama held on to the top spot for a second year. the pope climbed two notches from last year. he is in fifth place. facebook's ceo mark zuckerburg went to number 25. former president clinton held on to number 50. and tonight be sure to watch brian williams sit down with tim cook. by the way, he's number 35 on the forbes list. >> finally, no, this is no joke. pizza hut in canada sent more than 100 bottles of pizza cented perfume to facebook fans. the fragrance boasts freshly baked hand tossed dough. >>> some optimistic news in the fight against breast cancer. women who took the common estrogen blocking drug tamoxofin cut the chance of getting breast cancer in half. >>> coming up, corey booker lives on food stamps. the nfl steps in with a million dollars for jovan belcher's orphan daughter and high resolution images of your planet earth from space. the new technology uses filtering techniques that allows the images such as city lights, gas flares, auroras, wildfires and reflec
rate at nearly 52%. >>> forbes is out with the 2012 most powerful people list. president obama held on to the top spot for a second year. the pope climbed two notches from last year. he is in fifth place. facebook's ceo mark zuckerburg went to number 25. former president clinton held on to number 50. and tonight be sure to watch brian williams sit down with tim cook. by the way, he's number 35 on the forbes list. >> finally, no, this is no joke. pizza hut in canada sent more than...
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in my view fooling around with the debt ceiling is worse than the fiscal cliff. so you're sort of trading one monster for another. i think it would be, again, absolutely nuts to go there. >> peter, what do you think? >> oh, i don't agree. i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would, jared. >> they would not. >> jared, you have to -- >> let me make a point. the treasury secretary can decide if he or she believes a deal sl imminent not to adjust withholding tables. very important. >> i'm talking about no deal and we go off the cliff. >> we go off and stay off. >> it's $400 billion. we have a lot of things to do with regard to our debt ceiling, and my feeling is no one really believes the united states of america is going to default on its debt even if it lapses. we're dealing with different things. one is real and substantive and the other is psychological. >> i really disagree. >>
in my view fooling around with the debt ceiling is worse than the fiscal cliff. so you're sort of trading one monster for another. i think it would be, again, absolutely nuts to go there. >> peter, what do you think? >> oh, i don't agree. i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would,...
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what we need to do is to avoid the fiscal cliff, have a down payments of both spending reductions and effective tax rate increases geared towards the well off. all right? we need to defer most of the major spending reductions and tax rate increases until a date later than 2013. couple that with a deferral of the debt ceiling limit to the same date so that we can achieve a grand bargain in 2013, which will be budget control, comprehensive tax reform, social insurance reforms, those types of things. we have to be realistic about what can be achieved before the end of the year and we have to build to achieving a grand bargain in 2013. >> steve, last year, we know how close everyone got and we also know that the president commission has been involved in all those people to come to a fix for our long-term problems. now, they came up with 28% as a tax rate. they came up with three to one in terms of spending cuts. the president is nowhere near embracing that at this point. we're so far from that at this point that it seems like the opportunity was mittsed last year. >> right now, the presid
what we need to do is to avoid the fiscal cliff, have a down payments of both spending reductions and effective tax rate increases geared towards the well off. all right? we need to defer most of the major spending reductions and tax rate increases until a date later than 2013. couple that with a deferral of the debt ceiling limit to the same date so that we can achieve a grand bargain in 2013, which will be budget control, comprehensive tax reform, social insurance reforms, those types of...
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we would love to see the fiscal cliff solved, we would love to see fundamentals come back to sense, but our affordable care act, i don't see that as a big impact at all. >> simple, good clean story with good distribution, nice yield. scott peters, chairman and president of health care trust of america. they are not involved with the crazies in of america other than maybe they can profit from it. [ male announcer ] if you suffer from heartburn 2 or more days a week, why use temporary treatments when you can prevent the acid that's causing it with prevacid24hr. with one pill prevacid24hr works at the source to prevent the acid that causes frequent heartburn all day and all night. and with new prevacid24hr perks, you can earn rewards from dinner deals to music downloads for purchasing prevacid24hr. prevent acid all day and all night for 24 hours with prevacid24hr. >>> are we underestimating sandy, just plain wrong about how much rebuilding needs to be done? maybe this morning we got a recognition from bill dudley, president of the new york federal reserve, that sandy might be the big o
we would love to see the fiscal cliff solved, we would love to see fundamentals come back to sense, but our affordable care act, i don't see that as a big impact at all. >> simple, good clean story with good distribution, nice yield. scott peters, chairman and president of health care trust of america. they are not involved with the crazies in of america other than maybe they can profit from it. [ male announcer ] if you suffer from heartburn 2 or more days a week, why use temporary...
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before, they were talking about increasing rates. that was bad enough and now they saves increase rates and get rid of deductions. a huge increase in demand on tax rises. does that concern you? >> absolutely. this is a proposal was brought to the table and on the republican side kind of laughed at and not take it seriously at all. some concern for the market because we are no closer than we were two week ago to any kind of agreement at all and if history has taught us anything with washington d.c. they don't solve anything until it comes to the last minute and all that uncertainty creates a lot of volatility in the market and we're seeing that more and more and will continue to see that for the next 30 days. liz: you to in this out and listen with one ear because you have been long-term bullish. how do you proceed when there is this echo chamber out of washington d.c. about the fiscal cliff? >> what you need to realize is regardless of where they end up, they have reduced standing and high taxes. you get a lot of noise. what i am see
before, they were talking about increasing rates. that was bad enough and now they saves increase rates and get rid of deductions. a huge increase in demand on tax rises. does that concern you? >> absolutely. this is a proposal was brought to the table and on the republican side kind of laughed at and not take it seriously at all. some concern for the market because we are no closer than we were two week ago to any kind of agreement at all and if history has taught us anything with...
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>> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a "washington post" poll finds 53% would blame republicans if the country went over the fiscal cliff while only 27% would blame the president. >> we need new thinking and renewed efforts from all americans. >> reporter: republicans and democrats are voicing support for extending middle class tax cuts until a larger deal is found. >> which i hope they will. that that will be a victory for the american people. >> reporter: republicans, like virginia's eric cantor, said the gop has offered plans that will avoid tax hikes. >> and the proposal that we sent to the president deserves a response. >> repor
>> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a...
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turn to the fiscal cliff, i know you don't want to get clinical or partisan, or even talk about this ridiculous phrase "fiscal cliff," just in your dealings with the financial issues for the last 30 or 40 years, what is your view about taxation, generally. doesn't america suffer when taxes are slightly higher in terms of economic prosperity? or is that just a bit of a myth? >> well, i think there are a lot of theories running around out there. and i have the formal education, and finance degree so i studied economics like a lot of us did. i was formally taught, the proper way is that way. that seems to be the direction of the obama administration, the idea to raise taxes. and the government control the reinvestment interest the economy. really, there is not much evidence that that has worked. it didn't work under obama or bush, even an argument it didn't work under fdr, which is where it came from. that probably world war ii bailed us out of the economic slump, probably called the great depression, rather than that. i am a sophisticated guy, i don't have a lot of sophisticated looks
turn to the fiscal cliff, i know you don't want to get clinical or partisan, or even talk about this ridiculous phrase "fiscal cliff," just in your dealings with the financial issues for the last 30 or 40 years, what is your view about taxation, generally. doesn't america suffer when taxes are slightly higher in terms of economic prosperity? or is that just a bit of a myth? >> well, i think there are a lot of theories running around out there. and i have the formal education,...
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if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> what the -- we just got a statement from senator hatch who called treasury secretary geithner's remarks one of the most stunning and irresponsible things -- statements he's heard in a very long time and i think there's going to be some gop reaction. i will say that the idea for the question i asked came out of comments that president obama had made earlier so i'm not sure how much a change in position this is as it is just explicitly stating the position of the administration. he also said that going over the -- a deal would not get done without a deal on the debt ceiling as well. finally the treasury secretary said the proposal from speaker boehner did represent some progress. >> i think we're making a little bit of progress. i mean, we're still some distance apart. they're clearly moving. they're trying to figure out how to move
if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> what the -- we just got a statement from senator hatch who called treasury secretary geithner's remarks one of the most stunning and irresponsible things -- statements he's heard in a very long time and i think there's going to be...
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>> as far as the fiscal cliff? >> no, we have time for mortgages. >> i think we have time. the fed has stated they want to hold short-term interest rates through 2014. we know they don't technically control long-term interest rates unless they are buying mortgages which they have done over the last couple years. so, you know, it appears by all measures that you have some time, but you never know because these things can change very rapidly. rates tend to go up higher a lot quicker than they come down. >> you've seen the commercial allied financial where they say the greatest economists in the world and a nobel laureate and do you know where interest rates are going in a year, and he says no. we should know what cd rates are going. >> i think they've done the best they can -- >> what is the maximum amount cd rates could fluctuate in the next 12 months? >> could fluctuate? >> a quarter pobet? >> a quarter point. >> where are they? >> 0.3. >> long term? i saw the ad, i saw a full-page ad in the detroit paper recently that a bank was bragging about their incredible interest rat
>> as far as the fiscal cliff? >> no, we have time for mortgages. >> i think we have time. the fed has stated they want to hold short-term interest rates through 2014. we know they don't technically control long-term interest rates unless they are buying mortgages which they have done over the last couple years. so, you know, it appears by all measures that you have some time, but you never know because these things can change very rapidly. rates tend to go up higher a lot...
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fortunate americans and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that tax rates for 98% of all americans and 97% of all businesses. it's a small percentage of individuals that make more than $250,000 a year that tax rates would go up just a little bit. we had an election, thomas, where americans had a clear choice and they chose and we need to make sure that we think a balanced approach that is fair, that doesn't throw the middle class under the bus and that works mathematically. so far what we've seen from republicans in the house does not work in terms of reducing the deficit. >> congresswoman, we are watching the president on our screen at the business roundta
fortunate americans and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that...